Egypt, Germany deepen economic partnership across investment, trade

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Egypt and Germany are strengthening their economic partnership, moving beyond traditional trade towards long-term development and investment cooperation, with a focus on…

Egypt and Germany are strengthening their economic partnership, moving beyond traditional trade towards long-term development and investment cooperation, with a focus on socio-economic stability and green growth.

“Egypt is among the most important partner countries for German development cooperation. We have been and will remain a committed partner for Egypt and its people,” German Ambassador to Egypt Jürgen Schulz told Daily News Egypt.

He stressed that a key feature of the two countries’ cooperation is that it is based on mutual agreement and shared priorities.

Schulz said debt swaps have proved to be an effective instrument for financing development initiatives in Egypt, noting that a total of €254m has been committed and is currently being implemented in the country.

Of this amount, €154m is allocated to the energy sector under the NWFE platform. The funding supports key projects, including electricity grid modernisation, helping strengthen Egypt’s energy infrastructure, improve efficiency, and facilitate the integration of renewable energy, he explained.

The ambassador also revealed that the two governments are holding promising negotiations on redirecting upcoming debt repayment obligations towards development financing in Egypt through the debt-swap mechanism.

Regarding air connectivity between Cairo and Berlin, Schulz noted that German airlines are already among the carriers operating the highest number of flights to Egypt and continue to expand their presence.

The Lufthansa Group, for example, recently launched flights from Munich to Cairo and is preparing to introduce a direct route from Brussels. Condor is increasing its flights to Hurghada, while TUIfly regularly connects passengers to Luxor, Marsa Alam, and Sharm El-Sheikh.

With EgyptAir also operating frequent services to Germany, connectivity between the two countries is stronger than ever, he said, attributing this to Germany’s position as Egypt’s most important tourist market and one of its leading trade…

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